ISLAMABAD: The federal government has constituted a high-level policy council headed by Planning Minister Ahsan Iqbal with the aim of “enhancing transparency and improving the economic planning process with the active participation of the private sector and business leaders”.
The policy council is an initiative of the Ministry of Planning and the Planning Commission of Pakistan, comprising a diverse group of esteemed members from various fields, including former federal ministers, industry leaders, academic experts and international practitioners.
The policy council, chaired by Iqbal, comprises a diverse group of esteemed members from various fields, including former federal ministers, industry leaders, academic experts and international professionals.
Notable members of the board include former serving federal minister Shahid Ashraf Tarar, Chairman of Interloop Limited Musadaq Zulqarnain, Vice-Chancellor of University of Agriculture — Faisalabad Dr Rana Iqrar and an IT expert from the US Naveed Sherwani among others.
The newly formed body is tasked with advising on policy formulation and strategy development, providing guidance on policies and strategies aimed at promoting medium and long-term economic growth.
In addition, the board will also provide insight into national and international economic issues, examining macroeconomic trends and providing economic perspectives to inform policy decisions.
It will also review national plans and economic reports to offer recommendations, assess socio-economic trends to support evidence-based policy advice and advise on policies to enhance national innovation and competitiveness.
In addition, the board will integrate sustainable development goals into national economic strategies, facilitate dialogue with key stakeholders and promote international cooperation. It will also review the impact of major economic policies to assess their effectiveness.
Presiding over the first meeting of the policy council, Federal Minister Iqbal emphasized the importance of this initiative to stabilize Pakistan’s economy.
He emphasized that the participation of the private sector will significantly improve the performance of the Planning Commission. Board members will play a critical role in developing strategic frameworks and preparing short-, medium- and long-term plans.
Iqbal noted that the policy board will ensure the implementation of the 5Es Framework, the 13th five-year plan and Vision 2030.
These frameworks prioritize key areas such as exports, digital development, environmental sustainability, energy and equality.
Members’ experiences and recommendations will also help shape the national budget, making the process more transparent and credible.
The federal minister reiterated the government’s commitment to transform Pakistan into a trillion dollar economy by 2035 through effective implementation of the 5E Framework.
He called on private organizations, civil society and experts to work together to lead the nation towards stability and development.
The members of the policy board expressed their appreciation for the inclusion of experts from the private and corporate sectors.
They pledged their full support to the government’s initiatives, recognizing the significant impact this partnership could have on Pakistan’s economic development.
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